2012-10-12T16:49:24-05:00 2012-05-31 420714325 MCGLADREY LLP 221 THIRD AVENUE SE STE 300 CEDAR RAPIDS IA 524011512 990 2011-06-01 420680323 UNIVERSITY OF DUBUQUE UNIV 5635893000 2000 UNIVERSITY AVENUE DUBUQUE IA 52001 JAMES STEINER 5635893210 2012-10-11 1 KAY HEGARTY P00091057 3192985333 2011 2016-02-24 21:20:13Z JEFFREY F BULLOCK 2000 UNIVERSITY AVENUE DUBUQUE IA 52001 85499340 0 X WWW.DBQ.EDU X 1911 IA POSTSECONDARY AND GRADUATE LEVEL EDUCATION 31 25 1333 0 454477 313019 9531110 4767826 44468706 47979742 5086178 1354397 85951 471340 59171945 54573305 12142887 13181708 0 0 20306119 22379928 0 0 1157205 19132506 20113877 51581512 55675513 7590433 -1102208 205814339 203523724 65477247 74381608 140337092 129142116 X THE UNIVERSITY OF DUBUQUE IS A SMALL, PRIVATE UNIVERSITY AFFILIATED WITH THE PRESBYTERIAN CHURCH (U.S.A.) OFFERING UNDERGRADUATE, GRADUATE, AND THEOLOGICAL SEMINARY PROGRAMS. THE UNIVERSITY IS COMPRISED OF INDIVIDUALS FROM THE REGION, THE NATION, AND THE WORLD.AS A COMMUNITY, THE UNIVERSITY PRACTICES ITS CHRISTIAN FAITH BY EDUCATING STUDENTS AND PURSUING EXCELLENCE IN SCHOLARSHIP. THEREFORE, THE UNIVERSITY OF DUBUQUE IS COMMITTED TO:- THE PRESBYTERIAN TRADITION;- EXCELLENCE IN ACADEMIC INQUIRY AND PROFESSIONAL PREPARATION;- RELATIONSHIPS WHICH ENCOURAGE INTELLECTUAL, SPIRITUAL, AND MORAL DEVELOPMENT;- COMMUNITY WHERE DIVERSITY IS APPRECIATED AND CHRISTIAN LOVE IS PRACTICED;- STEWARDSHIP OF ALL GOD'S HUMAN AND NATURAL RESOURCES;- ZEAL FOR LIFE-LONG LEARNING AND SERVICE. 1 0 24777789 13181708 45405527 INSTRUCTION: 1,804 FULL-TIME EQUIVALENT (FTE) UNDERGRADUATE, GRADUATE, AND SEMINARY STUDENTS FALL 2011. LARGEST UNDERGRADUATE MAJORS INCLUDE BUSINESS ADMINISTRATION, FLIGHT OPERATIONS, AND HEALTH, WELLNESS, AND RECREATION. 9929355 398304 STUDENT SERVICES: INCLUDES ADMISSIONS, ATHLETICS, AND ALL AREAS OF STUDENT LIFE. 5812125 1591925 AUXILIARY SERVICES: INCLUDES UNIVERSITY BOOKSTORE, COFFEEHOUSE, AND DAYCARE FACILITIES 3843503 583986 ACADEMIC SUPPORT 3843503 583986 44362772 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 1 0 1 1 99 0 1 1333 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 25 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 X JAMES STEINER VP OF FINANCE 5635893210 2000 UNIVERSITY AVE DUBUQUE IA 52001 REV DR JEFFREY BULLOCK 40.00 X X 342764 0 48764 JOSEPH A CHLAPATY 1.00 X X 0 0 0 MARK C FALB 1.00 X X 0 0 0 DOUGLAS J HORSTMANN 1.00 X X 0 0 0 MARK P BRODERSEN MD 1.00 X 0 0 0 EDWARD A BABKA 1.00 X 0 0 0 JOHN E BUTLER 1.00 X 0 0 0 PATRICK M CRAHAN 1.00 X 0 0 0 KIMBERLY M DAVID 1.00 X 0 0 0 SUSAN R FARBER 1.00 X 0 0 0 R GERALD FOX 1.00 X 0 0 0 EDWARD J HANNON MD 1.00 X 0 0 0 JEWEL KINTZINGER-DAY 1.00 X 0 0 0 HON JAMES L MARTIN 1.00 X 0 0 0 THOMAS WOODWARD 1.00 X 0 0 0 KENT A PETERSON 1.00 X 0 0 0 SUZANNE LUCK PREISS 1.00 X 0 0 0 PHILLIP A RUPPEL 1.00 X 0 0 0 SARAH J SLAUGHTER 1.00 X 0 0 0 RONALD A STOCKDALE 1.00 X 0 0 0 RICHARD C SVRLUGA 1.00 X 0 0 0 WILLIAM J SVRLUGA JR 1.00 X 0 0 0 NICK YIANNIAS 1.00 X 0 0 0 REV CATHY F YOUNG 1.00 X 0 0 0 JOHN G COUCHMAN 1.00 X 0 0 0 CHARLES A DAOUD 1.00 X 0 0 0 SCOTT A KNAPP 1.00 X 0 0 0 REV BRUCE E HEDGEPETH 1.00 X 0 0 0 JOHN D STOLTZ 1.00 X 0 0 0 GEORGE J KUBAT 1.00 X 0 0 0 REV BRIAN W JONES 1.00 X 0 0 0 SCOTT TAYLOR 1.00 X 0 0 0 RICHARD P FRANZEN 1.00 X 0 0 0 JACKALINE M DUNLAP 1.00 X 0 0 0 JEFFERY KEITH 1.00 X 0 0 0 OZELL HUDSON 1.00 X 0 0 0 JAMES D STEINER 40.00 X 167795 0 24130 DEBORAH BUOL 40.00 X 60857 0 3541 ALAN GARFIELD 40.00 X 112744 0 10805 DR MARK WARD 40.00 X 121459 0 20820 DR MICHAEL MIYAMOTO 40.00 X 101951 0 13917 907570 0 121977 5 0 1 0 CONLON CONSTRUCTION 1100 ROCKDALE RD DUBUQUE IA 52003 CONSTRUCTION SERVICES 4585753 STRAKA JOHNSON ARCHITECTS PC 3555 DIGITAL DR DUBUQUE IA 52001 ARCHITECTURAL SERVICES 3176686 COTTINGHAM & BUTLERSISCO BENEFITS 800 MAIN ST DUBUQUE IA 52001 INSURANCE & CLAIM ADMINISTRATION 1241439 AMERISERVE FOOD MANAGEMENT SERVICES 200 E WALNUT COLUMBIA MO 65203 FOOD SERVICE MANAGEMENT 1132303 NORTHERN TRUST 50 S LA SALLE ST CHICAGO IL 60603 LETTER OF CREDIT SERVICES 455013 7 9632 670877 4087317 1047170 4767826 STUDENT REVENUES 611600 45405527 45405527 AUXILIARY ENTERPRISES 611600 1591925 1591925 982290 982290 47979742 2143953 2143953 108811 44306 64505 64505 64505 29948983 113000 30650779 200760 -701796 -87760 -789556 -789556 47053 9632 30190 16863 16863 K-1 PAXTON/PATTERSON 310000 322906 322906 DAYCARE 624410 67493 67493 K-1 NTPEF QP III 900099 -427 -427 389972 54573305 46387817 454477 2963185 13181708 13181708 647990 421414 226576 17593909 13676602 3506443 410864 720498 559122 135061 26315 2254148 1024116 1197100 32932 1163383 876903 256808 29672 1074145 1074145 11336 11336 80572 80572 146712 146712 583620 397014 90220 96386 782011 566697 215314 1583585 1040161 520179 23245 456745 35857 420888 1454413 1454413 527679 445119 57799 24761 103221 66514 36707 1981827 1532276 449551 4851068 4503669 347399 762027 274222 487805 COST OF GOODS SOLD 947516 947516 MEMBERSHIP & FEES 794608 82988 708514 3106 CURRICULUM SUPPORT 618028 384606 233422 FEDERAL UBIT 5768 5768 3348996 2239124 1041838 68034 55675513 44362772 10155536 1157205 7045731 15599038 15557017 16122406 1490207 1478816 358461 297130 569652 648054 145581875 47785929 88112780 97795946 77072529 55443873 11752928 11904758 3003994 2973204 851040 1260499 205814339 203523724 4976958 7291107 1541779 1840705 46190000 47110000 4871339 4438111 7897171 13701685 65477247 74381608 X 50114952 52962240 36706369 20544597 53515771 55635279 140337092 129142116 205814339 203523724 X -1102208 -10092768 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82744290 2511563 -2736330 500310 1859737 123312 80036164 67478626 7802907 9331465 420419 1333142 115147 82744290 62473395 1449215 5528299 503113 1330133 139037 67478626 81227281 253538 0 716309 1402022 141195 64124752 0.24930 0.69510 0.05560 1 0 2091955 2091955 119297983 29675061 89622922 1523013 522445 1000568 20765907 15954266 4811641 1903017 1634157 268860 97795946 INVESTMENTS IN TRUSTS HELD BY OTHERS 1343914 F PRIVATE NOTES RECEIVABLE 1008212 C REAL ESTATE HELD FOR INVESTMENT 1550580 C PRIVATELY HELD STOCK 3022967 C INVESTMENT IN LIMITED LIABILITY COMPANY 2511596 F COMMODITY AND MISCELLANEOUS INVESTMENTS 2358909 F CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 108580 F 11904758 STUDENTS' DEPOSITS 406623 DUE TO U.S. GOV'T-PERKINS LOAN PROGRAM 1124680 ACCRUED LOSS ON INTEREST RATE SWAP 11603806 ANNUITY OBLIGATION 566576 13701685 54573305 55675513 -1102208 -4043481 -6049287 -10092768 -11194976 31227178 -4043481 -19230995 -23274476 54501654 146147 -74496 71651 54573305 42422154 74496 74496 42347658 146147 13181708 13327855 55675513 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS SUPPORT STUDENT SCHOLARSHIPS, ACADEMIC PROGRAMMING, AND INSTITUTIONAL SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE INTERNAL REVENUE SERVICE HAS RECOGNIZED THE UNIVERSITY AS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR SECTIONS OF STATE LAW. THE UNIVERSITY FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. WHEN THESE RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE TAX POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. EXAMPLES OF TAX POSITIONS COMMON TO UNIVERSITIES INCLUDE SUCH MATTERS AS THE FOLLOWING: THE TAX EXEMPT STATUS OF EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). UBIT IS REPORTED ON FORM 990-T, AS APPROPRIATE. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE "MORE LIKELY THAN NOT" RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY TO BE REALIZED ON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNCERTAIN TAX BENEFITS IN THE ACCOMPANYING BALANCE SHEETS ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY AS OF MAY 31, 2012 AND 2011. FORMS 990 AND 990-T FILED BY THE UNIVERSITY ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. FORMS 990 AND 990-T FILED BY THE UNIVERSITY ARE NO LONGER SUBJECT TO EXAMINATION FOR THE FISCAL YEARS ENDED MAY 31, 2008 AND PRIOR. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -95,822. UNREALIZED LOSS ON INTEREST RATE SWAP -5,840,072. BOOK-TAX DIFFERENCE ON PAXTON/PATTERSON LLC -113,393. TOTAL TO SCHEDULE D, PART XI, LINE 8: -6,049,287. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS SHOWN AS CONTRA INCOME -13,181,708. PAXTON PATTERSON K-1 BOOK/TAX DIFFERENCE -113,393. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -95,822. UNREALIZED LOSS ON INTEREST RATE SWAP -5,840,072. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH FUNDRAISING REVENUE FOR 990 -30,190. RENTAL EXPENSES NETTED WITH REVENUE FOR 990 -44,306. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE NETTED WITH RENTAL INCOME FOR 990 44,306. FUNDRAISING EXPENSES NETTED WITH FUNDRAISING REVENUE FOR 990 30,190. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS SHOWN AS CONTRA INCOME 13,181,708. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLISHED IN VARIOUS NEWSPAPERS AND BROCHURES FOR PROSPECTIVE STUDENTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IS DISTRIBUTED TO STUDENTS USING FEDERALLY APPROVED FINANCIAL NEED ANALYSIS CRITERIA. EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES STUDY ABROAD EXPENSES 18105 EAST ASIA AND THE PACIFIC - 0 0 PROGRAM SERVICES STUDY ABROAD EXPENSES 5096 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 INVESTMENTS 194823 NORTH AMERICA 0 0 INVESTMENTS 102398 EAST ASIA AND THE PACIFIC - 0 0 INVESTMENTS 2776 0 0 0 0 0 0 323198 0 323198 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: FOREIGN EXPENDITURES ARE REPORTED ON A FISCAL YEAR ACCRUAL ACCOUNTING BASIS. GOLF OUTING 56685 9632 47053 20005 10185 56685 9632 47053 20005 10185 30190 16863 1 SCHOLARSHIPS & GRANTS 1512 13181708 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: DISBURSEMENTS TO STUDENTS RECEIVING FINANCIAL AID ARE MADE IN ACCORDANCE WITH INSTITUTIONAL PROCEDURES TO ENSURE THAT THOSE RECEIVING AID ARE QUALIFYING RECIPIENTS. FEDERAL FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IS DISTRIBUTED TO STUDENTS USING FEDERALLY APPROVED FINANCIAL NEED ANALYSIS CRITERIA. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 REV DR JEFFREY BULLOCK 242775 0 90000 0 9989 0 15172 0 33592 0 391528 0 0 0 JAMES D STEINER 142630 0 25029 0 136 0 8343 0 15787 0 191925 0 0 0 PART I, LINE 1A REV. DR. JEFFREY BULLOCK, PRESIDENT RECEIVES A NON-TAXABLE HOUSING ALLOWANCE WHICH INCLUDES UTILITIES AND RESIDENTIAL CLEANING SERVICES. THE HOUSING ALLOWANCE IS REPORTED AS OTHER COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN (F) AND SCHEDULE J, PAGE 2, PART II, COLUMN (D). THE ORGANIZATION PAYS COUNTRY CLUB DUES ON BEHALF OF REV. DR. JEFFREY BULLOCK, PRESIDENT AND JAMES D. STEINER, VP OF FINANCE & AUXILIARY SERVICES. THE PORTION OF THE PAYMENT FOR COUNTRY CLUB DUES THAT IS DEEMED TO BE FOR PERSONAL USE IS TAXABLE TO THE EMPLOYEE AND IS REPORTED IN REPORTABLE COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN (D) AND SCHEDULE J, PAGE 2, PART II, COLUMN (B)(III). THE PORTION OF THE PAYMENT FOR COUNTRY CLUB DUES THAT IS DEEMED TO BE FOR BUSINESS USE IS EXCLUDED FROM COMPENSATION AS A WORKING CONDITION FRINGE BENEFIT. IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460SK3 2004-05-27 13200000 UD CONSTRUCTION PROJECTS/BOND REFUNDING 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460C38 2007-04-04 34700000 UD CONSTRUCTION PROJECTS/BOND REFUNDING 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460U46 2012-05-18 7200000 WORKING CAPITAL 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460S31 2011-07-27 8771762 REFUNDING REVENUE BONDS 0 0 0 6055000 13200000 1039039 167475 -12775 11988711 2005 1 0 1 1 10830000 34700000 10710000 345351 -94566 23550083 2008 1 0 1 1 7200000 74498 109368 7234870 0 0 1 1 8771762 889500 7706827 175435 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 PIPER JAFFRAY 25.000000000000 0 0 0 0 1 0 1 1 PIPER JAFFRAY 28.000000000000 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 X SCH K, PART II, COLUMNS A & B UPON COMPLETION OF SCH K, PART II FOR NEW BOND ISSUES DURING THE TAX YEAR ENDED 5/31/12, IT WAS DETERMINED THAT SOME INFORMATION ON PRIOR YEARS' SCH K, PART II FOR THE BONDS ISSUED IN 2004 AND 2007 SHOULD BE INCLUDED ON DIFFERENT LINES OF THE FORM. THE PRESENTATION OF AMOUNTS RELATED TO THE 2004 AND 2007 BONDS HAVE BEEN UPDATED ACCORDINGLY ON THE 2011 SCH K, PART II. COTTINGHAM & BUTLERSISCO SEE SCH L, PART V 1260884 SEE PART V 0 MICHAEL STOLTZ SEE SCH L, PART V 89206 SEE PART V 0 DUBUQUE BANK & TRUST SEE SCH L, PART V 335419 SEE PART V 0 AMY STEINER SEE SCH L, PART V 35213 SEE PART V 0 ROY BUOL SEE SCH L, PART V 36367 SEE PART V 0 SHANE BESLER SEE SCH L, PART V 73210 SEE PART V 0 BENJAMIN MARSH SEE SCH L, PART V 51972 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS (A) NAME OF PERSON: COTTINGHAM & BUTLER/SISCO BENEFITS(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: JOHN E. BUTLER, TRUSTEE IS >35% OWNER, CHAIRMAN, AND CEO OF COTTINGHAM & BUTLER AND SISCO BENEFITS (SUBSIDIARY).(D) DESCRIPTION OF TRANSACTION: THE ORGANIZATION PURCHASES INSURANCE PRODUCTS AND HEALTH INSURANCE CLAIM ADMINISTRATION SERVICES FROM COTTINGHAM & BUTLER/SISCO BENEFITS.(A) NAME OF PERSON: MICHAEL STOLTZ(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF JOHN D. STOLTZ, TRUSTEE.(D) DESCRIPTION OF TRANSACTION: MICHAEL STOLTZ IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: DUBUQUE BANK & TRUST COMPANY(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: DOUGLAS J. HORSTMANN, SECRETARY-TREASURER/TRUSTEE IS PRESIDENT/CEO OF THE BANK. MARK C. FALB, VICE CHAIRMAN/TRUSTEE AND PATRICK M. CRAHAN, TRUSTEE ARE ON THE BANK BOARD OF DIRECTORS.(D) DESCRIPTION OF TRANSACTION: AGGREGATE INTEREST & FEES PAID/RECEIVED BY THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: AMY STEINER(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF JAMES D. STEINER, VP OF FINANCE & AUXILIARY SERVICES.(D) DESCRIPTION OF TRANSACTION: AMY STEINER IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: ROY BUOL(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF DEBORAH BUOL, ASSISTANT SECRETARY.(D) DESCRIPTION OF TRANSACTION: ROY BUOL IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: SHANE BESLER(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF DEBORAH BUOL, ASSISTANT SECRETARY.(D) DESCRIPTION OF TRANSACTION: SHANE BESLER IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: BENJAMIN MARSH(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF JAMES D. STEINER, VP OF FINANCE & AUXILIARY SERVICES.(D) DESCRIPTION OF TRANSACTION: BENJAMIN MARSH IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE. X 7 SEE SCH M, PART II X 20 1047157 FMV X 2 2 SEE SCH M, PART II X EDU MATERIALS 1 1 SEE SCH M, PART II X PROMOTIONAL MATERIALS 2 2 SEE SCH M, PART II X EQUIPMENT 1 1 SEE SCH M, PART II 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. SCHEDULE M, PART I, COLUMN (D): VALUES ARE ASSIGNED ONLY AT THE REQUEST OF THE DONOR. WHEN VALUATION IS REQUESTED BY THE DONOR, THE ORGANIZATION REQUIRES AN APPRAISAL OR COST DOCUMENTATION. IF NO VALUATION IS REQUESTED BY THE DONOR, A VALUE OF ONE DOLLAR IS ASSIGNED TO EACH CONTRIBUTION. NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 THE UNIVERSITY RECEIVED ITS EQUITABLE PORTION OF THE MCELROY LOAN FUND TRUST EFFECTIVE FEBRUARY 1, 2012. THE UNIVERSITY WILL CONTINUE TO USE THE ASSETS FROM THE TRUST TO DISBURSE LOANS TO STUDENTS AND USE THE SAME CRITERIA FOR LENDING. FORM 990, PART VI, SECTION A, LINE 1 IN GENERAL, COMPENSATED OFFICERS OF THE BOARD DO NOT HAVE VOTING POWER. ALTHOUGH THE ORGANIZATION'S ARTICLES OF INCORPORATION GRANT VOTING POWER TO THE PRESIDENT, THE ORGANIZATION'S CURRENT PRESIDENT, REV. DR. JEFFREY BULLOCK, DOES NOT EXERCISE THIS RIGHT TO VOTE AS A COMPENSATED OFFICER. PURSUANT TO THE ARTICLES, THE PRESIDENT HAS BEEN INCLUDED IN THE TOTAL OF VOTING MEMBERS REPORTED ON LINE 1. OTHER THAN COMPENSATED OFFICERS WHO DO NOT VOTE, ALL MEMBERS OF THE BOARD HAVE EQUAL VOTING POWER OF ONE VOTE PER INDIVIDUAL. FORM 990, PART VI, SECTION A, LINE 2 (1) REV. DR. JEFFREY BULLOCK, PRESIDENT AND JOSEPH A. CHLAPATY, CHAIRMAN/TRUSTEE HAVE A BUSINESS RELATIONSHIP TO THE EXTENT THAT BOTH SERVE ON THE BOARD OF PAXTON-PATTERSON, LLC. THEIR ROLE AS BOARD MEMBERS IS TO REPRESENT THE UNIVERSITY OF DUBUQUE'S 40% INTEREST IN PAXTON-PATTERSON, LLC. (2) REV. DR. JEFFREY BULLOCK, PRESIDENT AND SCOTT A. KNAPP, TRUSTEE HAVE A BUSINESS RELATIONSHIP. (3) RICHARD C. SVRUGLA, TRUSTEE AND WILLIAM J. SVRUGLA, JR., TRUSTEE HAVE A FAMILY RELATIONSHIP. (4) MARK C. FALB, VICE CHAIRMAN/TRUSTEE, DOUGLAS J. HORSTMANN, SECRETARY-TREASURER/TRUSTEE, AND PATRICK M. CRAHAN, TRUSTEE HAVE A BUSINESS RELATIONSHIP. (5) PHILLIP A. RUPPEL, TRUSTEE, THOMAS WOODWARD, TRUSTEE, AND SCOTT TAYLOR, TRUSTEE HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 7B INDIVIDUALS ARE ELECTED TO THE BOARD OF TRUSTEES BY VOTE OF THE MAJORITY OF TRUSTEES. THE ARTICLES OF INCORPORATION PROVIDE THAT SUCH ELECTIONS ARE SUBJECT TO CONFIRMATION OR APPROVAL BY THE GENERAL ASSEMBLY OF THE PRESBYTERIAN CHURCH OF THE UNITED STATES OF AMERICA. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED BY THE FINANCE COMMITTEE AT THE FINANCE COMMITTEE MEETING PRIOR TO FILING THE FORM 990 WITH THE IRS. THE HIGH-LEVEL REVIEW WAS LED BY THE EXTERNAL ACCOUNTANT (THE SIGNING PAID PREPARER OF THE RETURN). A COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE IRS, WAS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY IN ELECTRONIC FORM VIA THE BOARD'S SECURE WEBSITE PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY SENDS A QUESTIONNAIRE TO ALL BOARD MEMBERS, CABINET, AND KEY EMPLOYEES DETERMINED BY THE UNIVERSITY (SUCH AS ALL DIRECTORS IN ADVANCEMENT OFFICE, CONTROLLER, DIRECTOR OF CONSTRUCTION MANAGEMENT, ETC.) ASKING EACH TO DETERMINE ANY RELATED PARTY/CONFLICT OF INTEREST DISCLOSURES. RESPONSES ARE REVIEWED TO DETERMINE IF THERE ARE ANY POTENTIAL PROBLEMS. FORM 990, PART VI, SECTION B, LINE 15A THERE IS A BOARD OF TRUSTEES COMMITTEE THAT SETS FORTH ANNUAL GOALS FOR THE PRESIDENT. HIS PERFORMANCE IS EVALUATED ANNUALLY (APPROXIMATELY JUNE OR JULY) BASED ON THE GOALS OUTLINED. HIS ANNUAL COMPENSATION AND ANY BONUS COMPENSATION ARE THEN DETERMINED AND APPROVED BY THE COMMITTEE. THE COMMITTEE ALSO USES COMPARATIVE DATA FROM THE IOWA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (IAICU) IN DETERMINING COMPENSATION. THE PRESIDENT EVALUATES AND DETERMINES EACH CABINET MEMBER'S COMPENSATION USING IAICU DATA AND ANNUAL PERFORMANCE. EACH CABINET MEMBER HAS LONG-TERM PERFORMANCE GOALS IN THE STRATEGIC PLAN, WHICH GOES THROUGH 2015. ALTHOUGH ANNUAL GOALS ARE DOCUMENTED IN THE STRATEGIC PLAN, EACH CABINET MEMBER HAS A CLEAR UNDERSTANDING OF WHAT S/HE IS TO DO. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY IS REQUIRED TO POST FINANCIAL STATEMENTS FOR THE PUBLIC DUE TO ITS HOLDING OF PUBLIC DEBT. THE UNIVERSITY COMPLIES WITH THIS REQUIREMENT BY POSTING ITS FINANCIAL STATEMENTS ON AN EXTERNAL, THIRD PARTY WEBSITE. OTHER FINANCIAL INFORMATION, GOVERNING DOCUMENTS, AND POLICIES ARE NOT PUBLIC INFORMATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,043,481. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -95,822. UNREALIZED LOSS ON INTEREST RATE SWAP -5,840,072. BOOK-TAX DIFFERENCE ON PAXTON/PATTERSON LLC -113,393. TOTAL TO FORM 990, PART XI, LINE 5: -10,092,768. MCELROY-DUBUQUE LOAN FUND 2000 UNIVERSITY AVENUE DUBUQUE IA 52001 421238745 EDUCATIONAL LOANS FOR UNIVERSITY OF DUBUQUE STUDENTS IA 501(C)(3) LINE 11A, I UNIVERSITY OF DUBUQUE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MCELROY - DUBUQUE LOAN FUND C 202488 COST PAXTONPATTERSON LLC 7523 S SAYRE AVENUE CHICAGO IL 60638 331084590 SALES OF EDUCATIONAL LAB EQUIPMENT DE UNRELATED 0 322906 2734560 0 0 0.40000